Studley's senior managing director John Mambrino, together with Nick Farmakis, managing director, negotiated the renewal transaction on behalf of GoldenSource. "We made certain that GoldenSource would directly benefit from the building improvements," notes Mambrino, who was involved in relocated the company to its current location nine years ago when the firm moved from 770 Broadway.
GoldenSource will benefit from a capital improvement program planned for the building, which will encompass significant renovations to the building's various mechanical systems and lobby.
According to Farmakis, location was also a factor that influenced the company's decision to remain in place for the long term. "GoldenSource will benefit from the building's adjacency to the new World Trade Center transportation station, as well as its proximity to Broadway and the World Financial Center."
Grubb & Ellis represented 22 Cortlandt St. ownership in the transaction.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.